Payroll Demo
What is Payroll Accounting?
Payroll accounting is the process of filing and tracking employee compensation data like money withheld for pay-checks, taxes, and other benefits each employee receives. Accountants use journal entries to record an organization’s transactions and total cash flow. Payroll entries fall under the scope of a general ledger that sorts all financial information. Once all payroll information is documented on an employee, human resources can use this data for performance evaluation etc.
What do Payroll Accountants Do?
Payroll accountants record all relevant financial information of the employees of a company. Primarily their ledgers include information on:
- Gross wages, salaries, bonuses, and commissions
- Withheld employer and employee taxes
- Withheld salary, insurance premiums and savings plans
- Employer and employee fringe benefits
What services are covered under Payroll Accounting?
Payroll is a broad topic that covers a variety of accounting services, such as those listed below:
- Documentation of original and duplicate pay slips
- Data input and record-keeping of employee financial information
- HMRC compliance
- Filing HMRC forms such as P60, P45, and P30
- Pension and Auto-enrolment payments
- National Insurance
- Tax computations
- Bright-Pay Connect for easy online solutions
Bright-Pay Connect
Bright-Pay Connect is an optional cloud add-on to desktop payroll software that introduces powerful online features including an automated cloud backup, online employer dashboards, annual leave management, client payroll submission and approval and an employee self-service portal. The payroll itself is still processed on Bright-Pay’s desktop application but the payroll information is stored online on a secure cloud server.
Winner of Payroll and HR Software of the Year 2021, Payroll Software of the Year 2019, Payroll Software of the Year 2018, Best Payroll Software 2020, and COVID-19 Hero Supplier. Bright-Pay is fully HMRC recognised, supports all RTI submission types and includes full auto enrolment functionality. New and improved features include integration with accounting software and the ability to batch process multiple employers at the same time.
Why do You Need a Payroll Accountant?
Time spent on the tiresome process of payroll; whether it is a limited company, a partnership, a landlord, a contractor, or a family business will be better spent on expanding sales and market share. Lanop helps eliminate the tedious task of calculating and filing your own payroll taxes. You also get rid of clerical errors. Local and national taxes are always changing, we make sure you are complying with regulation, while you get to focus on the bigger picture.
Lanop: Your Best Resource for Payroll Accounting in the UK
Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our corporate headquarters in Putney, London provide practical and efficient solutions to all your accounting needs.
Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.
Muhammad Tahir
In my role as Lanop's payroll manager, I'll be there to guide you through the Read More
Muhammad Tahir
Payroll Manager
I am a Payroll Manager at Lanop, but my expertise also includes bookkeeping as a speciality. Due to my experience in handling Finance and accounts of various industries, my responsibilities are keeping track of revenue and expenditures, monitoring accounts, and billing/invoicing. Call me right away if you want exclusive bookkeeping advice in accordance with current meta.
Syeda Sidra Batool
I am a Payroll Manager at Lanop and a qualified ACCA Affiliate. I Read More
Syeda Sidra Batool
Payroll Manager
Being a Payroll Manager at Lanop, I provide expertise to multiple contractors not only on payroll but also to help them get gross payment status from HMRC, verification of sub-contractors, and statutory year-end accounts. It is my job to make sure that clients’ businesses grow and plan for efficient tax returns at each step of operations.
Client's Testimonial
Lanop Chartered Accountants have been working with Wandsworth Chamber of Commerce for several years now and we have been very impressed with the exceptional level of service and expertise. Not only are they approachable but regular conversations are encouraged and when help is required, the response is always friendly, timely and very professional.The annual report on our accounts goes way above anything we have received from other accountants and the advice is always helpful, constructive, non-judgemental and positive. I am always left with an impression that they are looking after the Chamber’s best interests at all times.
Steve Pinto
Chief Executive
Wandsworth Chamber of Commerce
Why should you choose us?
Digitalized Solutions
Professional & Client Centric
Flexible Approach
One-to-One Consultation
No Surprise Costs
Payroll Expert
